From The Guardian:
Financial workers at Wall Street’s top banks are to receive pay deals worth more than $70bn (£40bn), a substantial proportion of which is expected to be paid in discretionary bonuses, for their work so far this year – despite plunging the global financial system into its worst crisis since the 1929 stock market crash, the Guardian has learned.
Staff at six banks including Goldman Sachs and Citigroup are in line to pick up the payouts despite being the beneficiaries of a $700bn bail-out from the US government that has already prompted criticism. The government’s cash has been poured in on the condition that excessive executive pay would be curbed.
I hope the perp walks start in January.
arrest the whole bunch. They engineered this financial mess.
I like your thinking. It is the logical extension of Bush’s “Ownership Society”. You broke it you bought it.
You wouldn’t have known it by listening to the evening news, but while bailout talks were going on there were protesters marching outside the Wall Street exchange chanting YOU BROKE IT! YOU BOUGHT IT! THE BAILOUT! IS BULL5H1T!
It looks like arresting the crooks may be harder than in the past.
http://www.nytimes.com/2008/10/19/washington/19fbi.html?_r=1&hp&oref=slogin
Another Bush legacy.
treat them like drug dealers and seize their house, cars and offshore bank accounts
If they would be prosecuted under RICO, I believe that could be done.
Hmm. One can only wonder how much the bonuses would have been had these companies actually turned a profit.
I don’t know. What is beyond obscene on the scale of intensity?
Live comfortably for the rest of my life and never have to work again.
Arrange the same for my kids and grandkids.
Honestly, it’s hard to imagine even having that much money, much less knowing what to do with it.